Look at Germany: 16 years of austerity policy have left our infrastructure so thoroughly compromised it literally falls apart - we were damn lucky that that bridge collapse in Dresden end of last year didn't kill anyone!

And even in the US you see it with every presidential change: Democrat governments cut services and expenditures because the last Republican cut taxes for the wealthy, the frustration leads to people vote for Republicans who introduce yet another round of billionaire tax cuts and blow up the government debt by untold billions of dollars, rinse and repeat.